Lower expectations. â€œIf you have kids, educate them on your financial situation,â€ says Penny Ray, a financial expert with Savings.com and blogger for BallersonBudgets.com. Better yet, make all your loved ones aware of your financial status. If you canâ€™t afford to buy a particular gift, let them know. Donâ€™t try to cater to expensive tastes and donâ€™t pretend to have more money than you do.